“Operations for store owners become more efficient; because CoDi® they are free of charge, movements happen in real time, costs are reduced by replacing the use of cash with digital alternatives, and your security and income are increased. For their part, consumers have access to more flexible, easy, immediate, cost-free and secure forms of payment, as well as a much broader range of products,” said Roberto Martínez.
Currently, Code® It has more than 12 million users in Mexico and its operations register an accumulated amount of around 2,500 million pesos. In addition, 34 banks participate in the initiative and more than 20 companies have this digital collection alternative.
A more resilient and inclusive economy
PepsiCo was one of the first companies to join the initiative to promote the use of the CoDi app®to help shopkeepers grow digitally and give them access to new services and financial products that allow them to make their businesses more competitive.
Expansión: How does PepsiCo support small stores to achieve economic reactivation and what has been the process they have followed?
Robert Martinez: Little stores play a key role in the economy of our country thanks to the fact that they represent a source of income for nearly three million families, in addition to being a fundamental part of the value and supply chains of different industries.
Since the beginning of the pandemic, we have accompanied Mexican shopkeepers, promoting their digital growth and offering them new commercial models that help them strengthen their finances and security. In 2020, we presented our program to benefit more than 800,000 people who own a small store by equipping them with digital financial tools through CoDi®.
We are convinced that we must take advantage of our scale, knowledge and strong distribution network infrastructure to contribute to the resilience of the markets in which we operate and be true agents of change.
E: What benefits will small shops obtain by using CoDi®?
MRI: The pandemic has shown us the importance of digital commerce and payments for the survival and growth of businesses, especially small businesses. To put it in context, according to Konfío’s SME 2021 report, “Digital transformation in Mexico is just beginning”, before the pandemic only 7% of these businesses invested in digitization, but in 2020 they increased their investment up to 25% to be part of the digital economy.
Other advantages of using CoDi® for these establishments are:
- Increase of up to 30% in your sales
- Greater security and efficiency in your cash management
- Development of technological and digital skills
- Personalize the offer for your customers
- Expand your service portfolio
- Carry out transactions every day of the year, 24 hours a day
E: How is it that this project promotes financial access for small businesses?
MRI: By strengthening our financial inclusion program and joining the efforts to bring the country’s small businesses closer to CoDi®we contribute to objective of the Bank of Mexico to develop an inclusive mobile payment ecosystem that has the participation of different actors, ranging from banking institutions to non-financial companies, commercial chains and SMEs, and in which all Mexicans have access to send and receive electronic payments —immediate , without commissions and available at any time—, with security and transparency in each transaction.